11-15-2016 01:17 PM CET - IT, New Media & Software

VoIP Services Market (Corporate Consumers and Individual Consumers) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020

Press release from: TMR - Research Reports

According to Transparency Market Research, the competition in the global VoIP services market is stoked by a combination of the high fragmentation in the market and the need to differentiate products due to the similarity of the fundamental offerings. The market is fragmented to such a degree that the top four companies in the market - AT&T, Vonage, Skype, and Sprint - collectively accounted for less than 12% of the market in 2013.

The global VoIP services market is likely to be shaped by the capital-intensive nature of the industry, with established players set to carry a clear competitive edge in the coming years. Easy interoperability will be the key in developing successful VoIP services thanks to the growing use of multi-channel and multi-device communication by corporate as well as individual customers.

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Increasing Demand for BYOD, Personal Mobility Drives Demand for VoIP Services

The rising implementation of bring your own device (BYOD) policies in the global corporate sector has boosted the popularity of VoIP services as a convenient solution. “Thanks to the easy installation of VoIP services at both ends, they represent a feasible way of allowing real-time face-to-face communication between various entities,” explains TMR’s lead analyst.

The widespread use of smartphones and tablets has also been beneficial for the global VoIP services market. The high technical sophistication of modern smartphones means they usually come equipped with the ability to host VoIP conversations. This has been welcome news for developers of VoIP services, as VoIP has now come within the reach of the average consumer, resulting in promising growth prospects in the coming years.

The steady advancement in telecom networks has also been vital for the global VoIP services market. While developing countries still primarily use 2G or 3G telecom networks, developed economies such as the U.S., Canada, and much of Western Europe has started using 4G and even 5G telecom networking. This has helped the VoIP services market immensely, as the bandwidth capacity of 2G and often 3G networking is often insufficient for VoIP.

Low Public Awareness, Lack of Advanced Telecom Networking to Restrict VoIP Services Market

The key restraint on the global VoIP services market is the lack of advanced telecom communication technology in developing regions. VoIP services require topnotch communication infrastructure to deliver smoothly, which is not feasible with older telecom technology.

The relatively low smartphone penetration in the highly significant India market is another key constraint on the VoIP services. Despite its dynamic economy and steady urbanization, India’s smartphone penetration remains below 20% due to the widespread use of feature phones. The consistent arrival of cheap smartphones in the India market is likely to boost smartphone penetration in India in the coming years, opening up the floodgates for the VoIP services market.

Phone-to-Phone Communication to Exhibit Rapid Growth, Computer-to-Phone Communication to Remain Dominant

Historically, computer-to-phone communication has dominated demand from the global VoIP services market. However, the growing availability of VoIP services on smartphones is set to revolutionize the global VoIP services industry in the coming years. The phone-to-phone communication segment of the VoIP services market is expected to exhibit the highest CAGR over the 2014 to 2020, with the segment expected to be used by more than 70 mn subscribers by the end of 2016 and 128.2 mn subscribers by the end of 2020. While computer-to-phone communication is likely to be the leading contributor to the global VoIP services market by the end of 2020, the demand for phone-to-phone VoIP communication is growing at by far the higher rate.

View Report: www.transparencymarketresearch.com/voip-services-market.html

Regionally, the Asia Pacific market for VoIP services is likely to exhibit the highest CAGR in the 2014-2020 forecast period, with the segment’s annual revenue expected to rise to US$32.7 bn by the end of 2016 and US$54.9 bn by the end of 2020.

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